Welcome to the PT Partners Blog

News, views and real perspectives.

Changes to the Claiming of Travel Costs for Inspecting Investment Properties

written by:
Josh McMullen


On 15 November 2017, legislation was passed into law which will see most owners of residential investment properties denied tax deductions for travel expenses related to their properties. This law is backdated to any travel undertaken from 1 July 2017 onwards. The legislation is quite wide in scope and covers travel for all purposes including travel for the purpose of inspecting, maintaining, and collecting rent, as well as undertaking repairs…

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Estate Planning Explained

written by:
Darren Hagarty


Estate Planning means different things to different people. Ultimately, it is about ensuring that you have the right mechanisms in place to ensure that in the event of your death, your assets pass in the manner you intend them. To help you better conceptualise the Estate Planning process, we’ve created an Infographic to outline the key steps. How We Can Help? Through a deep understanding of the personal and business structures of…

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Buying or Selling Property? Beware of the Capital Gains Tax Withholding Rules

written by:
Darren Hagarty


If you are buying or selling real estate situated in Australia for $750,000 or more, it is important to be aware of the the Capital Gains Tax Withholding rules. With effect from 1 July 2017, for any real estate transactions of $750,000 or above, the vendor must provide to the purchaser, prior to settlement, a  “clearance certificate” obtained from the ATO. Without this, the purchaser is required to withhold 12.5% of the…

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Small Business Tax Concessions

written by:
Josh McMullen


On 9 May, the Government passed through Parliament legislation to assist small to medium businesses. While business tax cuts were the headline measure, included in the changes was an increase to the Small Business Entity (SBE) turnover threshold. Backdated to 1 July 2016, the SBE turnover threshold has been increased from $2 million to $10 million (including the turnover of any connected entities and affiliates). Treasury estimates that this will…

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Time to Make Trust Resolutions

written by:
Darren Hagarty


Discretionary Trusts (sometimes referred to as Family Trusts) are a popular structure used by many of our clients. An important annual task when operating a discretionary trust is to prepare a Trustee Resolution to describe the manner in which the net income of the trust will be distributed to beneficiaries. To be effective for income tax purposes, the Australian Taxation Office (ATO) require that resolutions be made by 30 June…

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Superannuation Changes – Is It Time to Act?

written by:
Kellie Powell


The Government’s superannuation changes take effect from 1 July 2017 and represent the biggest shake-up to the superannuation system in the past 10 years. The changes mean there is a last chance opportunity to act before 30 June 2017 to maximise superannuation contributions before the new legislation takes effect. Following we take a look at the changes to the super contributions caps that may impact you. NO MORE NON-CONCESSIONAL CONTRIBUTIONS…

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